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21Shares has taken a significant step forward in the cryptocurrency investment landscape by filing an application with the SEC to launch a spot XRP exchange-traded fund (ETF), listed on the Cboe BZX Exchange. If approved, this initiative, with Coinbase as the custodian, will allow investors to access XRP’s market indirectly, which simplifies investing in crypto by bypassing the typical complexities of direct asset handling.
The proposed ETF, named Core XRP Trust, aims to reflect the CME CF Ripple-Dollar Reference Rate, focusing on tracking XRP’s price without employing speculative strategies like leverage or derivatives. This development follows 21Shares’ successful introduction of Bitcoin and Ethereum ETFs, highlighting their commitment to expanding secure, regulated investment options in the crypto sector.
Despite the ongoing legal nuances surrounding XRP’s status and previous SEC hesitations, Ripple CEO Brad Garlinghouse’s optimistic outlook, combined with growing institutional interest, suggests a promising future for the acceptance of XRP ETFs. This move by 21Shares could pave the way for broader, mainstream crypto adoption in the investment world.
